In November 2016, Britain borrowed £192.2 billion according to Bank of England data, up 10.8% on 2015. A huge £66.7 billion of this was spent on credit cards. Despite experts believing that this borrowing cannot be maintained, estimates from The Office for Budget Responsibility (OBR) predict that our household spend will reach £49.6 billion more than we earn by 2021.
So what impact is our spending having on our future pension plans? True Potential Investor, a provider of personal pensions, suggests that our spending now could be severely limiting how comfortable we are in later life.
Research carried out by True Potential Investor and published in their Tackling The Savings Gap Consumer Savings and Debt Data Q3 2016 report suggests that many people believe they will retire with debt. At 55, UK savers can access 25% of their pension pot tax-free. A fifth of respondents said they would use this sum to clear debt. Likewise, 42% of savers said that they would use an unexpected £1,000 windfall to pay off debts.
Traders in the Forex market get distracted easily. There are many scammers in the market who try to tell them that they should develop strategies for each of the markets in Forex. If any market is not in their favor to trade, they will have the choice to select other markets. Also, as there are many currency pairs in Forex, they should not trade with one currency pair. They should try the different pairs in Forex. Most of these are only to take money from the traders. If you think you can develop your trading mindset by trading in different markets, you will only make it harder to make profits. Trading in one market is the most profitable form of trading.
Stick to a single market for trading
If you are trading in the European market, do not change your market. Trading in the single market for many times will give you experience of that market. Also, one thing is that every market in Forex is different. Some markets are more stable than the other markets for placing trades. Your European market has got the best market movements in Forex. Many traders love to trade in the European market for this movement. However, if you look at the professional traders in the United Kingdom, you will see that every single one of them have their own favorite trading assets. They have mastered the art of fundamental and technical analysis to execute the best possible trade setups on that particular asset.
Analyzing the market trend and developing your strategy takes time that you will not get if you trade in different markets. Most of the time, the market repeats past trends. The traders wait for the market to repeat the trends and place trades in the market. If you change your market from time to time, you cannot analyze the market. Past trends are an important market strategy to use in the trading for making a profit.
Online investment company, True Potential, has produced a graphic – mapping out how people around the UK are saving towards their personal pension funds.
How well is your region preparing for retirement? Read on to find out, the stats may surprise you!
Have you ever considered how much money you could make if you took the time to gain some insight about your investing options and had access to sophisticated and up-to-date resources? Do you feel like you have worked out a dynamic plan for the future that will allow you to maximize your potential profits and maybe even enable you to retire several years early?
In a nutshell it boils down to working out and setting aside from your monthly earnings a figure that you feel comfortable dedicating to a designated purpose, be it your retirement or to generate extra cash, perhaps both.
Let’s consider security and retirement needs. If you happen to be in your late teens or early twenties, that is the ideal time to purchase a term life insurance policy and lock in the very low monthly premium. Unfortunately, money put into a savings account will not collect enough interest to keep up with the rising cost of living. Buying mutual funds is a wonderful way to indirectly invest in the stock market. They can range from aggressive growth to a more balanced portfolio: The latter reduces both potential risk and return. If you follow this route for generating retirement income and even if you use a financial advisor it is still vital to routinely monitor the performance of your portfolio and make adjustments when necessary. A more involved and assertive approach still, is to allocate for both retirement and extra income.
Although Social Media and Hollywood make the idea of throwing piles of cash around and driving sports cars across the world look like it’s easy, for most of us it can seem like a world away. With Instagram accounts dedicated to watching rock stars and models play poker, it can leave you feeling a little green. However, with a little bit of foresight and a pinch of attitude adjustment, sitting on a heap of money really isn’t all that difficult. Check out these tips to save money, and build yourself a little fortune whilst you’re at it.
When it comes to direct debits and utility bills, companies will very rarely have your best interests in mind. When your contracts come up for renewal, always be sure to challenge the offer and look elsewhere, you can save literally hundreds of pounds on things like phone contracts, home/car insurance and water bills.
- Get Rid of the Things You Don’t Need
Sitting on an endless stack of DVD’s that never get touched courtesy of your shiny new Netflix account? Sell them and make some extra cash, and additional space in your home. Places like Music Magpie, CEX and eBay make for a perfect place to sell your unwanted video games, cd’s and movies. Also things like unused musical instruments or gym equipment can be sold on places like the Facebook Marketplace or Craigslist to guarantee that end up in the right place.
Imagine that you’re moving along just fine. Things are going well at work, and everyone likes you. Your home life is sound, and everyone is committed to working together. But what happens when a sudden financial emergency comes out of nowhere? Take your car, for instance. If you have to make heavy car repairs, doesn’t that throw your schedule off balance? It’s difficult to imagine having to take care of things so quickly but it happens every day. What would happen to your job if you couldn’t drive there every day? Some of you out there are lucky enough to have colleagues that would drive you to work every day but many do not have this option. The ultimate decision to make here is the one that’s going to bring things back to normal.
Here is a huge opportunity to overcome any financial emergency quickly: fast cash loans. Now, these aren’t the loans that you’re thinking of from the past. The loans we’re talking about are confidential, available online, and deposit funds into your account fast enough to tackle just about any emergency that you can think of. If you need to have the car repairs paid for so you can go back to work, but payday is far away, you can take care of it and go back to focusing on what really counts.
Following the economic problems that we are seeing on a global scale, more and more people are desperately trying to find cheaper car insurance. Obviously, the cheaper insurance still needs to be a decent insurance plan. A lot of people these days are convinced that effective, cheap car insurance is unachievable. But this is not the case, and this article will provide you with some ways to reduce the high rate of insurance costs that most people are paying.
1. Research different insurance companies. It is all well and good knowing the average prices of insurance for your vehicle, but you need to know what current rates there are on the market. Finding out what the prices are and comparing packages with difference insurance companies can help you save money, even if it is just a fraction of your total payment. Shop around to find the best deals for your vehicle, on your budget. Using comparison sites like carinsurance.ae can both save you time and money when looking to compare insurance packages.
2. Opt for a higher deductible. This will then provide you with the benefits of lower monthly payments. It’s true that you will have to pay more in the event of an accident, but the reduced monthly costs will help towards this. This plan is probably best suited for someone who has a clean driving licence, and drives their car in safe areas. This ensures that it will be less likely for you to have to claim on your insurance. However, if you have to then you will have saved enough money on the monthly payments to cover an accident or theft of your vehicle.